Week 1 quiz Week 1, Quiz 1Points Received 40/40 (100%) 1. Total cost equal the fixed cost plus the variable cost per unit divided by volume • True • False 2. Objective probabilities that can be stated prior to the occurrence of an event are • Subjective • A priori • Classical or a priori • None of the above 3. An experiment is an activity that results in one of several possible outcomes. • True • False 4. Variable costs are independent of volume and remain constant. • True • False 5. Which of the following is an equation or an inequality that expresses a resource restriction in a mathematical model? Decision variable • Data • An objective function • A constraint • A parameter 6. Which of the following is incorrect with respect to the use of models in decision making? • they improve understanding of the problem • they promote subjectivity in decision making • they are generally easy to use • they provide a systematic approach to problem solving 7. The steps of the scientific method are: • Problem definition, model construction, observation, model solution implementation • Observation, problem definition, model construction, model solution Implementation model construction, problem definition, observation, model solution implementation • Observation, implementation, problem definition, model construction, model solution 8. A frequency distribution is an organization of numerical data about the events in an experiment. • True • False 9. The events in an experiment are mutually exclusive if only one can occur at a time • True • False 10. The probabilities of mutually exclusive events sum to zero. • True • False 11. Which of the following is not an alternative name for management science ? • decision sciences • quantitative methods • quantitative analysis operations research • decision support systems 12. In a given experiment the probabilities of mutually exclusive events sum to • 0 • 0. 5 • 1 • Non of the above 13. ____________techniques includes uncertainty and assume that there can be more than one model solution • Deterministic • Probabilistic • Distribution • Probability 14. A set of events is collectively exhaustive when it includes_________ the events that can occur in an experiment. • Some of • One of • All • Any of 15. A__________ probability is the probability that two or more events that are not mutually exclusive can occur simultaneously. Joint • Marginal • Subjective • Binomial 16. In a given experiment, the probabilities of all mutually exclusive events sum to one • True • False 17. Profit is the difference between total revenue and total cost. • True • False 18. Fixed costs depend on the number of items produced • True • False 19. A model is a functional and include • Variable • Parameters • Equations • All of the above 20. The term decision analysis refers to testing how a problem solution reacts to changes in one or more of the model parameters • True • False

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